The research will provide a clear insight into MediPharms operations enabling them to create efficiencies and drive performance
MediPharm Labs Corp. (TSX: LABS) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, is pleased to announce that its wholly-owned subsidiary, MediPharm Labs Inc., has completed work associated with a Research and Innovation Collaboration Agreement with Georgian College for a Data and Analytics Insights project. This four-month applied research project now complete, heightens MediPharm Lab's abilities in diagnostic assessment of operations, analyzing quality management data, creating efficiencies and driving performance.
We are pleased to have partnered with a leading and innovative research institution to advance the data and analytics behind our cannabis extraction processes and methodology. This important work demonstrates our commitment to investing in building a foundation informed by data-driven decisions also supported by future predictive analytics Pat McCutcheon CEO MediPharm Labs
The goal of the collaboration was to create an operational dataset that provides insights and predictive analytics to help glean the highest purity, potency and efficiency from operations. The first phase of the project, completed in collaboration with faculty applied researchers and students from the Peter B. Moore Advanced Technology Centre, established a relational database of original cannabinoid content and potency of cannabis flower inputs tracked through MediPharm Labs' processes of Milling, Decarboxylation, Extraction, Winterization/Filtration, Solvent Removal, and Distillation through to end products.
"This has been an exciting opportunity for us to work with such an innovative company located right here in Barrie," said Mira Ray, Director, Research, Innovation and Entrepreneurship at Georgian College. "MediPharm's goal to be a data-driven company aligns with our Competitive Smart Manufacturing applied research and development program, which supports local businesses on their Industry 4.0 journey. The faculty and students from our Big Data Analytics program have helped MediPharm establish a strong foundation to collect, analyze and utilize their data for real-time decision-making, process improvements and overall productivity and quality gains."
As part of the project, key performance indicators were established with standard calculation formulae and statistical methodology, enabling the R&D team and operational management to finetune processes with a deep understanding of impacts on quality and cost-effectiveness. The project delivered intuitive functional dashboards to monitor and provide diagnostic management tools to the operations team on a more timely basis. This Big Data project dovetailed with MediPharm Labs' recent company-wide implementation of SAP, a Tier 1 Enterprise Resource Planning system for data-driven decision making.
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